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'EU relations are thawing, they observed 2018 elections' - rubbish, what did they say?

23 Jul 2019 at 07:52hrs | Views
It is easy to see why Zimbabwe is in this economic mess, the pitiful lack of quality in all spheres of our governance say it all!

"It is estimated, for those who have done the studies, that Zimbabwe has lost an estimated US$42 billion in revenue because of the sanctions," Minister Sibusiso Moyo told the Parliamentary Portfolio Committee on Foreign Affairs and International Trade, the Herald reported.

"The country lost multi-lateral donor support which is estimated at about US$4.5 billion annually since 2001 (total to date US$90 billion) and US$ 12 billion in the IMF, World Bank and African Development Bank loans which could have developed infrastructure in this country and commercial loans estimated at US$ 18 billion which could gone to the private sector and into other areas and as a result of that, a reduction of GDP of over US$21 billion."

This is just bull s***t.

It is a matter of historic fact that the IMF, WB and most other financial institutions stop giving Zimbabwe and financial assistance at the end of 1999 because Harare was failing to service its existing debts. This was at the end of the second of IMF and WB sponsored five-year Economic Structural Adjustment Programmes (ESAP), programmes had failed to bring about any meaningful economic recovery and Mugabe went to town blaming the two financial institutions. The regime had failed to honour its promised reforms.

When Mugabe fell out with the West he turned East with his "Look East!" drive. All financial assistance from China soon dried up for the same reason – Zimbabwe is a bad debtor.

When Mnangagwa took over he too revived the "Look East!" and signed many mega deals with China. Two years latter there has been little going on because China is still insisting that Zimbabwe pays the outstanding debts first.

There are other reasons why foreign investors and lenders have continued to shy away from doing business with Zimbabwe even after the watershed November 2017 military coup that saw the removal of Robert Mugabe. The country is still a pariah state ruled by corrupt, incompetent, vote rigging and murderous tyrants. No one was ever fooled by the "new dispensation" whitewash.

"That's why since his inauguration, His Excellency (President Mnangagwa) has dynamised Zimbabwe's quest to normalise relations with the West through re-engagement," Minister Moyo explained.

"However, the new dispensation has enabled the thawing of relations with the EU as seen by their observance of the July 31 elections and continued exchange of high levels visits."

Why not even one of the parliamentary committee members reminded the Minister what the EU Election Observer Mission said, is another mystery!

"The electoral commission lacked full independence and appeared to not always act in an impartial manner," stated the EU Mission report.

"The final results as announced by the Electoral Commission contained numerous errors and lacked adequate traceability, transparency and verifiability. Finally, the restrictions on political freedoms, the excessive use of force by security forces and abuses of human rights in the post-election period undermined the corresponding positive aspects during the pre-election campaign. As such, many aspects of the 2018 elections in Zimbabwe failed to meet international standards."

In 2016 the then President Mugabe admitted that the country was "swindled out of US$15 billion in lost diamond revenue". Mugabe never arrested one swindler or recover one dollar. Mnangagwa promise there would be "zero tolerance on corruption". He too has failed to arrest one diamond swindler or recover one dollar.

We know that the looting has continued to this day because former Minister of Finance, Patrick Chinamasa, admitted in 2017 that he was getting 1/6 of the diamond revenue he expected. Mnangagwa has admitted corruption is "deep rooted".

It is laughable that the regime should be expending so much time and energy blaming sanctions for exaggerated financial losses when all Zanu PF should have done to get financial assistance and get the sanctions lifted was to service its debts and hold free, fair and credible elections. Worse still, why has the regime down nothing to stop the life threaten haemorrhage of resources through corruption?

As long as Zimbabwe remains a pariah state ruled by corrupt thugs there will be no meaningful economic recovery. Minister Moyo's report of billions of dollars in increased economic activity if sanctions are lifted and of the progress in re-engaging the West are all a mirage. As long as Zanu PF remains in power Zimbabwe will remain stuck in this hell-hole the regime dragged us into.

Nothing good will ever come out of this Zanu PF regime, it is clearly incapable of reforming itself. The regime rigged last year's elections and pressure must now be brought to bear to force it to step down to allow the nation to implement the reform necessary for free, fair and credible elections.

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